FERC Conditionally Approves $4.3 Billion Sale of El Paso Electric Company

The Federal Energy Regulatory Commission on March 30 authorized the acquisition of El Paso Electric Company by an investment vehicle advised by J.P. Morgan Investment Management Inc., subject to approval of mitigation measures to address potential adverse effects on competition. This is the final regulatory approval required to consummate the transaction. The proposed sale has...

EnerKnol’s Visual Primer – Fast-Moving U.S. Offshore Wind Industry Braces for Hurdles as COVID-19 Disrupts Supply Chains

Offshore wind energy, which is key to realize the clean energy transition in several East Coast states, is faced with tough challenges as the COVID-19 pandemic disrupts the global supply chain, affecting project timelines. Delays have the potential to threaten power purchase contracts and federal tax credits that are crucial for project economics.

FERC Approves Jordan Cove LNG Project Despite State Permit Denials

The Federal Energy Regulatory Commission on March 19 conditionally approved the Jordan Cove liquefied natural gas export project and the associated Pacific Connector pipeline in Oregon. The approval is conditioned on the project qualifying for state permits, but Oregon regulators have declined several key regulatory approvals. The LNG terminal would be located in Coos County,…...

Virginia Commission Denies Dominion’s $750 Million Smart Meter Proposal Over Cost Concerns

The Virginia State Corporation Commission on March 26 rejected portions of Dominion Energy Inc.’s grid transformation plan including a $752 million proposal to deploy smart meters over the next decade. The agency found that Dominion failed to justify its smart meter proposal with a well-crafted plan including rate design that would maximize the potential for…...

Oil Market Volatility Hits Record High Amid COVID-19 Economic Crisis: EIA

Since the beginning of this year, crude oil prices fell significantly in response to the economic contraction caused by the COVID-19 pandemic and the sudden crude oil glut after the Organization of the Petroleum Exporting Countries and partner countries suspended agreed production cuts. Daily price changes for the U.S. benchmark crude oil West Texas Intermediate…...

Modest Carbon Fees Can Achieve Short-Term Emissions Reductions: EIA

Even modest carbon fees can facilitate emissions reductions in the short term, especially in the power sector where natural gas and renewables supplant coal, according to a March 17 report from the U.S. Energy Information Administration. However, once the emissions level linked to coal consumption is reached, the remaining gas- and petroleum-related emissions are harder…...

DTE Electric Revises Long-Term Resource Plan to Include Michigan Commission Recommendations

DTE Electric Company on March 20 filed a revised integrated resource plan with the Michigan Public Service Commission incorporating changes that the agency recommended to the original plan. The new IRP includes a single pathway and eliminates the four possible scenarios in the previous plan, applies higher energy waste reduction targets, and removes unapproved supply-side…...

EnerKnol’s Visual Primer – New Jersey’s Re-Entry into RGGI Strengthens Case for Regional Cooperation on Emissions

The Regional Greenhouse Gas Initiative (RGGI) expanded from nine to ten member states with New Jersey’s re-entry after almost a decade. Virginia’s Clean Economy Act sets the state to link with the compact in 2021, and Pennsylvania is drafting regulations in accordance with a 2019 executive order that commits the state to join the compact.

FERC Proposes Revisions to Transmission Incentive Policy with Focus on Project Benefits

The Federal Energy Regulatory Commission on March 20 proposed revisions to its electric transmission incentive policy to spur investment in the infrastructure needed to support the evolving generation mix, increasing number of new resources seeking transmission service, and changes in load patterns. The commission proposes a shift in its incentive analysis to grant incentives based…...

U.S. Coal Exports Fell By 20 Percent in 2019 Amid Downturn in Global Demand: EIA

U.S. coal exports dropped to 93 million short tons last year, a 20 percent decline from 2018, according to a March 18 report from the U.S. Energy Information Administration. Exports of steam coal fell by 30 percent while metallurgical coal saw a moderate decline of 12 percent. In 2019, the biggest importers were India, Japan,…...

U.S. Biofuel Production Projected to Grow Through 2050: EIA

U.S. biofuel production is projected to grow by 18 percent in 2050, relative to 2019 levels, under the reference case, which reflects current laws and regulations in the U.S. Energy Information Administration’s Annual Energy Outlook. The growth is driven largely by economic and policy factors, according to the agency’s March 9 report. In a scenario…...

RGGI Generates $90 Million in First Carbon Auction After New Jersey’s Re-entry

The 47th quarterly carbon auction of the Regional Greenhouse Gas Initiative, the nation’s first mandatory cap-and-trade program to cut power sector emissions, sold about 16.2 million carbon allowances at a clearing price of $5.65, according to a March 13 news release. New Jersey participated in the auction for the first time in almost a decade…...